5 NEW RENEWABLE ENERGY PROJECTS TO TAKE OFF SOON

The world’s largest oil exporter, Saudi Arabia, has recently commissioned five new renewable energy projects to generate electricity sustainably as it speeds up efforts towards achieving a net-zero emissions target by 2050. These projects will be initiated as a part of Saudi Arabia’s National Renewable Energy Program’s fourth phase, which is under the Ministry of Energy’s supervision.

Saudi Arabia is the region’s largest electricity consumer, and day-to-day household and industrial demand to meet power needs are rising quickly.

According to a study conducted by the King Abdullah Petroleum Studies and Research Centre in Riyadh, the kingdom’s overall electricity demand is expected to increase to 365.4 TWh by 2030. Saudi Arabia’s Vision 2030 economic plan places a strong emphasis on renewable energy. Therefore, the kingdom has revealed its intentions to spend more than a $100 billion on renewable energy projects in December. By 2030, it wants to increase the proportion of gas and renewable energy in its power mix to 50%.

The Saudi Power Procurement Company was named the major buyer of the 3,300 megawatt total capacity wind and solar projects. Three of the five projects will employ wind energy, while two will make use of solar energy. A project in Yanbu with a capacity of 700 megawatts, another in Al Ghat with 600 megawatts, and a third in Waad Al Shamal with 500 megawatts make up the 1,800 megawatts total production of the wind energy projects. The new solar projects will have a combined capacity of 1,500 mw, with one in Al Henakiyah having 1,100 mw and another in Tubarjal having 400 mw.

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